Nuclear Power Plant Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Nuclear Power Plant Equipment Market is projected to expand from USD 30.45 Billion in 2025 to USD 36.68 Billion by 2031, reflecting a Compound Annual Growth Rate (CAGR) of 3.15%. This market comprises vital industrial components necessary for nuclear energy generation, such as reactor pressure vessels, steam generators, and turbines. The sector is primarily propelled by the intensifying global demand for energy security and strict decarbonization mandates that favor reliable, low-carbon baseload power. These structural drivers indicate a sustained commitment to infrastructure evolution rather than fleeting market variances. As reported by the World Nuclear Association, nuclear reactors globally generated a record 2,667 TWh of electricity in 2024, highlighting the strong operational demand for nuclear technologies.

However, the industry contends with substantial hurdles regarding high initial capital expenditures. The immense financial resources required to construct new facilities, combined with intricate regulatory approval procedures and prolonged project durations, frequently hinder rapid market growth. These financial and procedural obstacles complicate investment strategies and can postpone the acquisition of vital equipment, acting as a significant restraint on the scalability of nuclear power initiatives in both developed and emerging nations.

Market Drivers

Escalating power requirements for data centers and artificial intelligence are fundamentally transforming the market, creating an immediate need for dependable, continuous carbon-free electricity. Technology giants are increasingly circumventing traditional grid limitations by calling for dedicated nuclear capacity to support energy-intensive activities, as renewable sources alone cannot consistently satisfy the continuous load profiles needed for hyperscale computing. According to the International Energy Agency in November 2025, electricity consumption by global data centers is anticipated to hit 945 TWh by 2030, a surge that demands stable baseload power. This structural evolution is pressing equipment manufacturers to hasten the delivery of essential components for plant restarts and is significantly encouraging the commercialization of Small Modular Reactors designed for on-site industrial use.

At the same time, the enforcement of government mandates for net-zero emissions is fueling a massive, long-term growth of global nuclear infrastructure. Nations are converting climate commitments into tangible construction plans to guarantee energy security, requiring extensive procurement of reactor pressure vessels, steam generators, and turbines. The World Nuclear Association's 'World Nuclear Fuel Report' from September 2025 indicates in its Reference Scenario that global nuclear capacity is set to reach 746 GWe by 2040, a substantial increase driven by these national policies. This expansion is supported by strong financial commitments; the International Energy Agency projected in November 2025 that annual investment in nuclear power would surpass USD 100 billion, supplying the capital needed to update supply chains and reduce risks linked to large-scale equipment production.

Market Challenges

High initial capital expenditures remain a tenacious barrier to the expansion of the global nuclear power plant equipment market. The development of new nuclear facilities necessitates significant upfront funding, which must be secured years before the plant begins generating revenue. This financial burden is compounded by extended construction timelines and rigorous regulatory processes, which introduce uncertainty regarding the final cost of projects. When utilities and developers face these elevated financial risks, they frequently postpone final investment decisions, leading to a direct slowdown in the procurement of essential hardware such as reactor pressure vessels and turbines.

This hesitation in capital deployment restricts the order flow for equipment manufacturers, limiting the sector's overall growth trajectory. The gap between necessary funding and actual deployment creates a challenging environment for suppliers relying on steady infrastructure development. According to the International Energy Agency, in 2024, global investment in nuclear power reached approximately USD 80 billion, a figure that underscores the constrained capital flow relative to the scale needed for rapid industrial expansion. This financial limitation effectively dampens the immediate demand for new equipment, preventing the market from accelerating at the pace of global energy needs.

Market Trends

The accelerated commercialization of Small Modular Reactors (SMRs) is transitioning from design conceptualization to concrete deployment pipelines, driven by government-backed fleet procurement programs rather than just isolated pilot projects. Unlike the private sector demand from data centers, this trend is defined by state-level commitments to standardize nuclear infrastructure for national grid stability, fostering a manufacturing-centric ecosystem for reactor modules. According to Rolls-Royce, June 2025, in a statement regarding the UK Small Modular Reactor competition, the company was selected as the preferred bidder to deliver a fleet of SMRs, a strategic programme supported by over GBP 2.5 billion in public funding to secure domestic energy resilience. This shift towards serialized fabrication of reactors allows equipment manufacturers to invest in dedicated production lines for pressure vessels and modular containment systems, significantly de-risking the supply chain.

Concurrently, the widespread adoption of additive manufacturing for components is fundamentally altering the procurement strategies for replacement parts and fuel assembly hardware. Utilities are increasingly validating 3D-printing technologies to produce complex, safety-critical geometries that were previously unmanufacturable or to rapidly source obsolete spare parts, thereby reducing inventory holding costs and lead times. According to Framatome, December 2024, the company successfully installed 3D-printed anti-debris filters at the Ringhals 4 nuclear power plant in Sweden, a milestone deployment that verifies the operational integrity of additively manufactured components within the harsh radiation environment of a commercial reactor core. This technological integration enables operators to bypass traditional casting bottlenecks and enhances the thermal-hydraulic performance of essential reactor internals.

Key Players Profiled in the Nuclear Power Plant Equipment Market

• Westinghouse Electric Company LLC
• GE-Hitachi Nuclear Energy
• Mitsubishi Heavy Industries Ltd.
• Doosan Corporation
• BWX Technologies Inc.
• Dongfang Electric Corporation
• Shanghai Electric
• Larsen & Toubro Limited
• Rosatom State Atomic Energy Corporation
• China National Nuclear Corporation

Report Scope

In this report, the Global Nuclear Power Plant Equipment Market has been segmented into the following categories:

Nuclear Power Plant Equipment Market, by Equipment Type:

• IslEquipment
• Auxiliary Equipment

Nuclear Power Plant Equipment Market, by Reactor Type:

• Pressurized Water Reactors
• Boiling Water Reactors
• Pressurized Heavy Water Reactors
• Others

Nuclear Power Plant Equipment Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Nuclear Power Plant Equipment Market.

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